By Dean Seal

 

American Electric Power Co. raised the lower end of its operating earnings guidance for 2022 and said it expects to see earnings grow between 6% and 7% next year.

The Columbus, Ohio utility said Tuesday that it now expects annual operating earnings of between $4.97 and $5.07 a share, compared with its prior outlook of between $4.87 and $5.07 a share. Analysts surveyed by FactSet are expecting $4.99 a share.

The company forecast the figure to be in the range of $5.19 to $5.39 in 2023. Analysts are expecting $5.28 a share, according to FactSet.

American Electric Power said it is accelerating its emission reduction targets with a new net zero goal by 2045 and an 80% reduction in full scope 1 emissions by 2030.

The company's shares edged 1% higher to $89 in premarket trading.

 

Write to Dean Seal at dean.seal@wsj.com

 

(END) Dow Jones Newswires

October 04, 2022 08:57 ET (12:57 GMT)

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